Role of Microfinance Institutions in the Development of Entrepreneurs

Abstract

Microfinance is the provision that provides access to various financial services such as credit, savings, micro insurance, remittances, leasing to low-income clients including consumers and the self-employed, who traditionally lack access to banking and related services. Its main objective is to provide a permanent access to appropriate financial services including insurance, savings, and fund transfer. Micro finance becomes more widely accepted and moves into main stream, the supply of services to poor may also increase, improving the efficiency and outreach while lowering the costs.

Keywords: Entrepreneurs, Funding for start-ups Microfinance, Self Employed, Local Permanent Institutions